Community Concepts Finance Corp
- Assets
- $12.7m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Lewiston, ME
- Founding
- 04/2003
- Data as of
- 09/2022
- EIN
- 01-0540981
Organization Overview
Community Concepts Finance Corp is located in Lewiston, ME. The organization was established in 2003. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Concepts Finance Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Community Concepts Finance Corp generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.9m during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE, STIMULATE AND PROMOTE HOUSING DEVELOPMENT AND HOME OWNERSHIP WITHIN MAINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING - CREATES HOMEOWNERS THROUGH LENDING AND HOME BUILDING AND SEEKS DEVELOPMENT OF AFFORDABLE MULTI-FAMILY HOUSING THROUGH VARIOUS FUNDING MECHANISMS. SERVICES INCLUDE LENDING SERVICES, CREDIT AND HOME OWNERSHIP EDUCATION. SIMILAR SERVICES PROVIDED IN THE AREAS OF SMALL BUSINESS LENDING AND ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Frautten Chair | OfficerTrustee | 2.5 | $0 |
Christopher Paradis Vice Chair | OfficerTrustee | 2 | $0 |
Lincoln Jeffers Secretary | OfficerTrustee | 2.5 | $0 |
Steven Davis Director | Trustee | 1.5 | $0 |
Fowsia Musse Director | Trustee | 1.5 | $0 |
C Shawn Yardley Past CEO - Cci | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $7,800 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $563,649 |
| All other contributions, gifts, grants, and similar amounts not included above | $190,353 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $761,802 |
| Total Program Service Revenue | $918,700 |
| Investment income | $1,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,681,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $92,217 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $962,137 |
| Fees for services: Legal | $11,153 |
| Fees for services: Accounting | $8,724 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,500 |
| Advertising and promotion | $8,876 |
| Office expenses | $35,389 |
| Information technology | $89,158 |
| Royalties | $0 |
| Occupancy | $47,935 |
| Travel | $3,999 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $217,730 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,909,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,790,796 |
| Savings and temporary cash investments | $2,730,593 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $250,867 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,661,641 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $42,917 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $187,368 |
| Total assets | $12,664,182 |
| Accounts payable and accrued expenses | $171,633 |
| Grants payable | $0 |
| Deferred revenue | $62,082 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $34,066 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,349,551 |
| Unsecured mortgages and notes payable | $2,100,000 |
| Other liabilities | $628,496 |
| Total liabilities | $8,345,828 |
| Net assets without donor restrictions | -$79,334 |
| Net assets with donor restrictions | $4,397,688 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,664,182 |